Today, Baby Boomers are armed with record high amounts of home equity and a strong desire to stay in their homes as they continue to age. Researches state that as Boomers reach their 70’s and 80’s their investments in aging in place modifications will drastically increase.
The all-time high home improvement spending of $424 billion in 2017 has contributed to a consistent increase in home prices. This trend gives homeowners the confidence to invest in their home with improvements.
Older homeowners are taking on one or more projects to improve accessibility. The report further revealed that homeowners remodeling for this reason spent significantly more than those with other intentions.
The researchers discovered that due to increased aging in place, there is an additional need for more ways to finance their home improvement projects. Offering in-house financing with Foundation Finance would generate considerable growth and help preserve the nation’s aging housing stock.
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